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$9.2B Settlement for FTX Creditors Reached in Bankruptcy Proceedings

FTX exchange clients could receive a payout of $9.2 billion by mid-2024 as part of the ongoing bankruptcy proceedings. The agreement between creditors and the new management of the platform marks a significant milestone in resolving clients' property disputes. The proposed plan involves segregating FTX assets into three categories, with platform users receiving approximately $8.9 billion and the American division receiving $166 million. The settlement is subject to court approval, with an application deadline of December 16, 2023.

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